Will my oblivion mods work with this? Because if they won't work, I won't be able to use this mod. 
Oh well . . .
I'll probably give it a go sometime's, but the mods I have just make the game for me.
Something you CAN do is
Something you CAN do is convert the mods to skyrim using nifscope.
How?
How would I do that?
No, only Skyrim mods will
No, only Skyrim mods will work with the exception of texture replacers. It's an entirely different game engine with a different script extender, afterall.
Look for Skyrim equivalents of the Oblivion mods you want to use. There should at least be some good mechanics/item mods.
Also, Skyblivion is in a very WIP state. It's really just to the point where you can walk around and look at things.